By Peter Nurse
Investing.com - European stock markets traded higher Tuesday, helped by gains in Asia overnight ahead of the release of the latest euro zone retail sales data.
European equities have returned from the long Easter weekend with a broadly positive outlook, helped by improved sentiment across large parts of Asia.
Japan’s Nikkei 225 index , in particular, gained over 1% after legendary U.S. investor Warren Buffett indicated he was looking to increase his exposure to Japanese stocks by lifting his holdings in the nation’s trading houses.
Back in Europe, the main economic focus will be the release of the euro zone’s February retail sales , which are expected to have fallen 0.8% on the month, an annual drop of 3.5%, indicative of the pressures soaring prices were placing on consumers’ disposable income.
In corporate news, BMW (ETR: BMWG ) stock rose 1.4% despite the German carmaker delivering 588,138 vehicles in the first quarter of this year, down 1.5% on the previous year.
"The BMW Group is on track for slight sales growth in the full year 2023," said Pieter Nota, management board member for customer, brands and sales. "The main growth drivers in 2023 will be fully-electric vehicles and models from the high-end premium segment," he added.
A lot of attention this week, however, is going to be on the U.S. markets in the wake of Friday’s official jobs report.
Oil prices rose Tuesday on hopes of demand growth in Asia as well as expectations that inventories in the U.S., the world's biggest crude consumer, will fall again.
Data showed that fuel consumption in India, the world's third-biggest oil consumer, jumped by 5% in March from a year earlier.
Reuters also reported that Chinese airlines were hiring en masse, positioning for an expected rebound in travel demand this year after the relaxation of the country’s anti-COVID restrictions.
The American Petroleum Institute , an industry body, is scheduled to release its weekly data on U.S. crude stockpiles later in the session, and is expected to show another fall after last week’s drop of over 4 million barrels.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.